Vale and China COSCO Shipping Corporation Limited signed a Contract of Affreightment (COA) for cooperation in the transportation of iron ore. According to the contract, China COSCO Shipping will transport about 16 Mt of iron ore for Vale per year as of the first half of 2018. The COA will continue until the end of the 27th year from the commencement date.
The COA was signed by Mr. Luiz Meriz, Executive Manager for Shipping and Iron Ore Marketing of Vale and Mr. Ye Weilong, Executive Vice President of China COSCO Shipping. Mr. Murilo Ferreira, President and CEO of Vale and Mr. Xu Lirong, Chairman of China COSCO Shipping served as witnesses during the signing ceremony. This contract of affreightment with China COSCO Shipping is another example of the long-term partnership between Vale and China,” says Mr. Murilo Ferreira.